Cyprus becomes latest stop in Saxo’s global expansion

Vitaly Boutbaev at Saxo Bank — Vitaly Butbaev

- By Robert Mackenzie Smith
- 26 Apr 2012

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Saxo Bank today continues its accelerating expansion into new markets with the opening of an office in Cyprus, to be managed by Vitali Butbaev, who has been with the Danish bank since 2001 and heads its central and eastern Europe operations.

Butbaev started out on Saxo's eastern European desk, which at the time numbered just two employees. In 2005, he took control of the desk's institutional business and was appointed director of the whole desk in 2007. With his new responsibility for the Cyprus

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